F.A. Hayek on Knowledge

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." -- F. A. Hayek
The Fatal Conceit: The Errors of Socialism
University of Chicago Press
1989

What Hayek was referring to is the false assumption that someone like Hillary Clinton can know all there is to know about health care and other large organizations in society.  Hillary gives the pretense of knowing things that she clearly does not know, all in the hopes of getting the votes of low-information voters.  

F.A. Hayek and Obama

One of the greatest principles of F.A. Hayek's economic viewpoint was the notion that no single individual has all of the available information of what exists in society, especially the unintended consequences, whether planned or not.  When you watch Obama speak as though he has unlimited information, you have to ask yourself, "How can this man claim to have information that he clearly does not?"  The answer is, he doesn't have this information, but a lot of fools in the past thought he did.  No we're all realizing that perhaps we were the fools for voting for him.